Savexa
Pros and Cons
Pros
- Diverse range of trading instruments including forex, commodities, indices, stocks, and cryptocurrencies
- Multiple account types catering to different trading experiences from beginners to high-volume traders
- High leverage of up to 1:400 available across all account types
- WebTrader platform provides essential trading features with demo accounts available
- Various payment methods for deposits and withdrawals, including bank transfers and e-wallets
Cons
- Not regulated by any financial authority
- Limited trading instruments compared to competitors
- Withdrawal processing times can be lengthy
- No demo accounts available for practice
- Inactivity fees apply for dormant accounts
Basic Information
User Reviews
Savexa Overview
Founded in 2015, Savexa is a forex broker registered in Comoros. Operating under the company name Trade Tide Ltd, it has been providing trading services for 1-2 years. Notably, Savexa is currently not regulated by any financial authorities, which is an important consideration for potential clients seeking a secure trading environment.
Is Savexa Safe? Regulation Analysis
Regulatory Information
The broker Savexa is not regulated by any recognized financial authority. This lack of regulation raises significant concerns regarding the safety of client funds and the overall trading environment. Potential clients should be aware that trading with an unregulated broker may expose them to higher risks, including limited avenues for dispute resolution and a greater potential for fraudulent activities.
Trading Products and Services
What Trading Instruments Does Savexa Offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | EUR/USD, GBP/JPY, Major & Minor Pairs | Varies |
| Commodities | Gold, Silver, Crude Oil | Varies |
| Indices | S&P 500, NASDAQ | Varies |
| Stocks | US (e.g. Apple, Tesla), UK (e.g. BP, Vodafone) | Varies |
| Cryptocurrencies | BTC, ETH | Varies |
Savexa offers a diverse range of trading instruments, catering to various trading styles and preferences. With available asset categories including forex, commodities, indices, stocks, and cryptocurrencies, traders can explore multiple markets to enhance their strategies. This flexibility is particularly beneficial for both novice and experienced traders seeking to diversify their portfolios and adapt their approaches to market conditions. By supporting a wide array of products, Savexa enables users to create comprehensive trading plans that align with their investment goals and risk tolerance, making it a versatile choice in today’s trading environment.
Account Types and Trading Conditions
What Account Types and Fees Does Savexa Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| Classic Account | Beginners | Low spreads, basic features | Suitable for traders with small capital |
| Silver Account | Intermediate traders | Enhanced features, moderate spreads | Requires a minimum trading volume |
| Gold Account | Experienced traders | Lower spreads, higher leverage | Ideal for traders seeking better conditions |
| Platinum Account | Advanced traders | Premium services, tight spreads | Requires significant trading activity |
| VIP Account | High-volume traders | Exclusive benefits, personalized service | Requires corporate documentation |
Account Opening Process
To open an account with Savexa, users need to follow a structured process. Initially, they will be required to submit personal information, including identity verification documents such as an ID and proof of address. Additionally, employment and financial information may also be necessary. This account opening process is designed to ensure compliance with industry standards. It is noteworthy that Savexa offers account flexibility, allowing users to upgrade to a professional account later if they meet the eligibility criteria.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (Major Pairs) | From 2.5 | $0 | Competitive spreads for major pairs |
| Forex (Minor Pairs) | Varies | $0 | Spreads may vary based on liquidity |
| CFDs (Stocks) | Varies | Variable commissions | Dependent on the stock and market conditions |
| CFDs (Indices) | Varies | Variable commissions | Market conditions affect fees |
| Commodities | Varies | Variable commissions | Depends on the commodity traded |
| Cryptocurrencies | Varies | Variable commissions | Fees may fluctuate based on market volatility |
Other Fees
Clients should be aware of several additional fees that may apply when trading with Savexa. These include potential deposit and withdrawal fees, which can vary based on the payment method used. Inactivity fees may also be charged for accounts that remain dormant for a specified period. Furthermore, platform usage fees may apply, along with overnight interest rates (swap rates) for positions held overnight. Lastly, currency conversion fees may be incurred when trading in different currencies.
Trading Platforms and Apps
What Trading Platforms and Apps Does Savexa Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| WebTrader | Windows, macOS | Secure login, multiple order types, price alerts, technical indicators | Demo accounts available |
| Mobile App | iOS, Android | Convenient login, push notifications, market search | None specified |
| MT4/MT5 | Windows, macOS | Two-factor authentication, advanced charting tools, economic calendar | VPS available |
Savexa provides a range of trading platforms designed to cater to different trader needs. The WebTrader platform is suitable for desktop users and offers essential trading features, while the mobile app ensures that traders can manage their accounts from anywhere with ease. MT4/MT5 platforms deliver advanced tools and security features for more experienced traders. Overall, Savexa’s platforms support secure logins, efficient order execution, and real-time alerts, enhancing the trading experience for users.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| Bank Transfer | 3–5 days | No platform fee | Min $50, Max $20,000/day | USD, EUR |
| E-wallet (e.g., Skrill, Neteller) | Instant | 1.5% charge | Min $20, Max $10,000/day | USD, EUR |
| Cryptocurrency | Instant | No platform fee | Min $10, Max $5,000/day | BTC, ETH |
Minimum Deposit
The minimum deposit requirement at Savexa is $50. This applies uniformly across all payment methods and account types, ensuring accessibility for all traders.
How to Withdraw
To withdraw funds from your Savexa account, follow these steps:
- Log in to your Savexa trading account.
- Navigate to the withdrawal section of the platform.
- Select your preferred withdrawal method from the available options.
- Enter the amount you wish to withdraw, ensuring it complies with the limits.
- Submit your withdrawal request for processing.
- You will receive a confirmation once your request is processed, and the funds will be transferred according to the selected method’s processing time.
Customer Support
Savexa Customer Support Overview
Support Channels
Savexa provides multiple channels for customer support to ensure traders can easily reach out for assistance. The primary contact methods include:
- Email: Traders can contact support via email at support@savexa.com.
- Live Chat: A live chat option is available on the website for immediate assistance.
- Telephone: Customers can reach support through the contact number +44 7822 107974.
- Social Media: Savexa is also accessible through various social media platforms for additional support and updates.
Service Availability
Savexa’s customer support is available during regular business hours; however, specific support hours are not detailed. The broker may offer multilingual support, but the specific languages supported have not been disclosed. Clients are encouraged to utilize the available channels for any inquiries or assistance they may need.
Frequently Asked Questions
No, Savexa is not regulated by any recognized financial authority. This lack of regulation raises significant concerns regarding the safety of client funds and the overall trading environment.
Savexa offers five account types: Classic, Silver, Gold, Platinum, and VIP. Each account type is designed to cater to different levels of traders, from beginners to high-volume traders, with varying features and benefits.
The minimum deposit requirement at Savexa is $50. This applies uniformly across all payment methods and account types, ensuring accessibility for all traders.
Savexa provides multiple channels for customer support, including email at support@savexa.com, live chat on their website, and telephone support at +44 7822 107974. Additionally, they are accessible through various social media platforms for further assistance.
Related Forex Brokers
Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.